2. 1. What type of economic system is found in pure socialism? A. command B. traditional C. free enterprise 2. What is on either side of the “economic spectrum?”

3. Today I will be able to distinguish between capitalist, socialist and communist economic systems by constructing a double bubble thinking map.

4. Advantages Efficiency Flexibility Disadvantages Are needs met? Who builds roads? Is it stable?

5. Mostly government owned businesses Most are democracies

6. Advantages The unfortunate and unproductive still benefit from society Healthcare, jobs, education, welfare Leaders are elected

7. Disadvantages Lacks efficiency Why work hard? Very high taxes

8. Political and economic system No private property No free elections

9. “All history is the history of class struggle” All history is a continuing story of conflict between the haves and the have-nots.

10. Class differences disappear All have equal access to Food, shelter, clothing Medical care All receive full benefit from their labor Factory owners no longer get rich on labor of workers

11. Everyone works for everyone’s good Consume according to your needs No prices or wages Who would Marx’s ideas appeal to? Who would be opposed to Marxism?

12. Advantages No one’s ever fired All needs provided

13. Disadvantages No individual freedom Little say in job selection Not free to move Equal pay Shoddy production

14. In a double bubble map, compare and contrast capitalism, socialism, and/or communism.